1. What is Tally?
Ans- Tally is powerful accounting software, which is driven by a technology called concurrent multi-lingual accelerated technology engine.

2.For what functions Tally can be used?
Ans- Tally Can be used in the following areas-

• Performing basic accounting calculations.
• Inventory management
• Calculating Job costing
• Payroll management
• Filling tax return
• managing balance sheet
• trial balance
• cash flow report
• Price and price list management

3. By whom Tally software is developed?

Ans- Tally software is developed by Tally Solutions Private LTD.

4. When Tally was first release?

Ans- Tally software was first released in 1995.

5. What is the first version of Tally?

Ans-The first version of tally is 4.5 [DOS version]

6. What is the latest version of Tally?

Ans-The latest version of tally is Tally ERP-9

7. What is the full form of ERP?

Ans- The full form of ERP is Enterprise Resource Planning.

8. What are the two in-built ledgers available?

Ans-The two in-built ledgers available are Cash and Profit and Loss accounts.

9. How many ledgers are there in Tally?

Ans- There are two ledgers single and multiple.

10. How to delete a ledger?

Ans- Gateway of Tally-Accounts info-Ledgers-Single ledger-Alter-Select the proper ledger-Enter-Press ALT+D-Enter.

11. How to create a group?

Ans- Gateway of tally-Accounts info-Groups-Enter.

12. What is voucher?

Ans- A voucher is an evidence of transactions which is occurred to a business organization. And it is related to represent as a proof of documents. A voucher can integrate all the monetary transaction in a customized format.

14. What is the shortcut key of the following?

ALT+F3, F1, F3, F11, F12.

Ans-The shortcut keys are-

ALT+F3= Company info

F1= Select company

F3=Change current company

F11=Company features

F12=company configurations

15. How many accounts are there in the golden rule of accounts which plays an important role in Tally?

Ans- Personal account, Real account and nominal account are the three accounts in the golden rule of accounts.

Execute the Voucher entry-

Paid electric bill Rs 250

Ans- Electric bills A/C Dr Rs 250

To Cash A/C             Rs 250

16. What is cost center?

Ans- It is a process which allocate the actual cost with a different kind of segmentation.

17. What is inventory management?

Ans-The holding of physical goods for future selling is called inventory management.

18. What is job costing?

Ans-When a company is producing or manufacturing any kind of product from its main stream business. This kind of job or project is called job costing.

19. What is the full form of PAN?

Ans- The full form of PAN is Permanent account number.

20. What is the full form of TAN?

Ans- The full form of TAN is Tax Deduction Account number.

21. In a market, price of a whole seller is lower than the retailer and dealer?

Ans- Yes the price of the whole seller is lower than the retailer and dealer.

22. If a company is created in Tally, what information will be stored directly?

Ans- The company data will be stored in the directory.

23. How the balance sheet is neutral?

Ans- The balance sheet is neutral when the payment is equal to the receipt of a company.?

24. What are the default configuration Tally ERP 9 provides for balance sheets?

Ans- There are two default columns liabilities and assets.

25. What is the short cut key to cancel a day book or list of vouchers in Tally ERP 9?

Ans- Alt+X is the short cut key to cancel a day book or list of vouchers in tally ERP 9.

26. What is the short cut key to add a voucher in Tally ERP 9?

Ans- ALT+A is the short cut key to add a voucher in Tally ERP 9.

27.what is TDS?

Ans-TDS means Tax Deduction at Source.

28. What is the current rate of exchange from rupees to dollar?

Ans- Rs 73.15 is the current rate of exchange.

29.what is payroll management in tally?

Ans-Payroll is the process of maintaining all the records of their salary and other pay heads

30. What are the usual pay heads on payroll?

Ans- Basic pay, DA, HRA, PFs are the usual pay heads on payroll